CUSTOMER_CODE
SMUDE
DIVISION_CODE
SMUDE
EVENT_CODE
JAN2016
ASSESSMENT_CODE MB0046_JAN2016
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
9788
QUESTION_TEXT
Explain the marketing research process
1.Identify the marketing problem (2 Marks)
2.Developing marketing research plan (2 Marks)
3.Designing marketing research strategy (2 Marks)
SCHEME OF EVALUATION
4.Collection of data (2 Marks)
5.Analysis of collected data (1 Mark)
6.Preparation of report (1 Mark)
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73190
QUESTION_TEXT
What is brand equity? Discuss the various components of brand equity.
SCHEME OF
EVALUATION
Brand equity is the added value that the consumer assigns to the
products and services. It is an arrangement of brand assets and
liabilities linked to a brand, its name, and symbol that put in or subtract
the value provided by a product or service to an organisation and /or to
that organisations customer. (2 marks)
These equity components can be grouped into the following
categories. . (Each point carries 2 marks)
1. Brand loyalty: Brand loyalty is the situation in which consumers
repeatedly prefer and continue to purchase the same brand within a
product or service category. Brand loyalty is one of the important bases
of equity creation. Six distinctive conditions are necessary for brand
loyalty. They are , Bias, behavioural reaction, expressed over time, by
any decision making unit, in relation to one or more alternative brands
and is a functional task of psychological processes.
2. Brand awareness: brand awareness is the ability to identify a brand
under different conditions. It includes brand recognition and brand
recall. Brand recognition is known as the capacity to verify prior
exposure and recall is the capacity to consider the brand when a
product category is thought about. This type of awareness is necessary
for a brand to be included in the decision process.
3. Perceived quality: the quality may be objective or perceived. The
objective quality indicates the actual superiority of product or service
though the perceived quality is perception of excellence of a product or
service in relation to its intended function. Perceived quality is
customer based a customer may satisfied with poor quality. Satisfaction
is determined by expectations.
4. Brand associations: the customer associates the attribute of the
brand with his/her belief. Attributes are descriptive features which are
used to characterise a product or service. The attributes may be
differentiated on the basis of how directly they are associated with the
performance of the product or service
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73193
QUESTION_TEXT
Explain the various characteristics that affect the consumer
buying behavior?
SCHEME OF
EVALUATION
Influence of cultural factors
Culture
Subculture
Social class
Influence of social factors
Reference group
Family
Role and status
Influence of personal factors
Psychological factors
Motivation
Perception
Selective attention
Selective distortion
Selective retention
Learning
Attitude
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
126174
QUESTION_TEXT
What are the benefits and components of MIS?
SCHEME OF
EVALUATION
The benefits of MIS are as follows:
MIS is concerned with planning and control. It allows marketing managers
to carry out the analysis, planning, implementation, and control
responsibilities more effectively. MIS includes all the ingredients that
are employed in providing information support to managers in making
planning and control decisions.
The output of MIS is information that sub serves managerial functions.
MIS deals with information that is systematically and routinely collected
in accordance with a well-defined set of rules. This implies that a MIS is
a part of the formal information network in an organisation. It provides
marketing intelligence to the firm and helps in early spotting of
changing trends.
MIS assesses the information needs of different managers and develops
the required information on time from the supplied data regarding
competition, prices, advertising expenditures, sales, distribution and
market intelligence, etc. It helps the firm to adapt its products and
services to the needs and tastes of the customers.
MIS provides inputs from marketing environmental factors like target
markets, marketing channels, competitors, consumers, and other forces
for creating, changing, and modifying marketing decisions in the
formulation of relevant and competitive marketing strategies. It ensures
effective tapping of marketing opportunities and enables the company
to develop effective safeguard against emerging marketing threats.
Components of MIS
The overall objective of any MIS is to provide inputs from marketing
environmental factors like target markets, marketing channels,
competitors, consumers, and other forces for creating, changing, and
modifying marketing decisions in the formulation of relevant and
competitive marketing strategies.
Internal record systems – Internal record systems are available within the
company across various departments and provide relevant, routine
information for making marketing decisions. The most evident internal
record system is the purchase and payment cycle systems. It records
the timing and size of orders placed by consumers, the payment cycles
followed by consumers, and the time taken to fulfil the orders in the
shortest possible time.
Marketing intelligence system – A marketing intelligence system is the
system of collecting and collating data. This system tries to capture
relevant data from the external environment. It collects and manages
data from the external environment about the competitors’ moves,
government regulations, and other relevant information having a direct
impact on the marketing environment of the firm.
Analytical marketing systems – Analytical marketing systems are also
known as Marketing Decision Support Systems (MDSS). A MDSS is a
coordinated collection of data, systems, tools, and techniques with
supporting software and hardware. Using this collection, an
organisation gathers and interprets relevant information from business
and environment and turns it into a basis for marketing action. It
involves problem-solving technology consisting of people, knowledge,
software, and hardware integrated through the information technology
platform into the sales management process of the organisation.
Marketing research systems – Marketing research systems are based
on systems and processes that help marketing managers to design,
collect, analyse, and report data and findings relevant to a specific
marketing situation facing the company. It also involves analysis of
information, which includes a coordinated collection of data, systems,
tools, and techniques with supporting software, and hardware by which
an organisation gathers and interprets the relevant data and turns it into a
basis for marketing action and tactics.
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
126179
QUESTION_TEXT
What is primary and secondary data? How it is gathered?
SCHEME OF
EVALUATION
Primary data refers to original data derived from a new research study
and collected at source, as opposed to previously published material.
Whereas secondary data refers to data already collected for one use
thatt is then utilised for another purpose. (2 marks)
Primary data can be collected by the following four ways:
1.
Census: -The method which data is collected from all the members
of the population is called census. Every ten years, the government
of India conducts census to record the population and its
characteristics.
2.
3.
4.
Survey:-To overcome problems posed by census method, many
refreshers follow the survey approach. A survey is any research
effort in which data is gathered systematically from a representative
sample of population. This data can be collected by contacting
respondents through telephone, mail, e-mail or through personal
contact method.
Observation:It is a method of collecting primary data in which
occurrences are observed. Marketers also use observational
technique for data collection, particularly when they are interested in
learning the ‘how’ behaviour. It can be personal, mechanical,
natural or contrived techniques.
Experiments: Marketing researchers conduct experiments to
discover he cause and effect relationships. An experiment allows a
researcher to change variable inputs and then measure its effect on
the dependent variable under controlled environment. (2 marks
each)
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
126182
QUESTION_TEXT
Explain the functions performed by marketing channels.
1.
2.
3.
4.
5.
SCHEME OF EVALUATION
6.
7.
8.
9.
10.
Buying (1 Mark)
Carrying inventory (1 Mark)
Selling (1 Mark)
Transportations (1 Mark)
Financing (1 Mark)
Financing (1 Mark)
Promoting (1 Mark)
Negotiations (1 Mark)
Marketing research (1 Mark)
Servicing (1 Mark)